§ Mr. Gristasked the Secretary of State for Energy whether he is able to announce any changes in the financial support arrangements for the Burmah Oil Company Ltd. provided by the Bank of England.
§ Mr. GrayFollowing the improvement in the position of the Burmah Oil Company Ltd., the Bank of England recently assumed sole responsibility for the remaining standby facilities made available by the Bank to the Burmah group of companiew until June 1982 under these arrangements. My Department's commitment to reimburse the Bank for any losses arising from the use of these facilities was accordingly terminated. Subsequently, the Burmah Oil Company Ltd. announced on 23 December that it had decided to repay the outstanding drawings, and to relinquish the right to make any further drawings under these facilities.